Brussels, 20/07/2005 (Agence Europe) - On Wednesday, the Commission decided to send a letter of formal notice to the Greek authorities, asking for information about its national legislation (laws 2328/1995, 1746/1988 and 3310/2005), which require media undertakings- television channels, radio stations, newspapers and magazines- to hold shares held by natural persons. This legislation bans companies established in a Member State where these rules do not exist from acquiring over 15% of the capital of a radio or television company.
The Commission considers that the Greek legislation restricts the free movement of capital and the freedom of establishment, is not backed up by reasons of public order or public health, and does not respond to an overwhelming reason of general interest as recognised by the Court of Justice of the European Union, such as transparency and media pluralism.